The U.K. government Treasury announced on Monday, April 4th, that it has asked the Royal Mint to create one non-fungible token (NFT) to be issued by the end of the year “as an emblem of the forward-looking approach the UK is determined to take.”
Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer.
This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK
— HM Treasury (@hmtreasury) April 4, 2022
The NFT was part of a series of announcements by the Economic and Finance Ministry to make the United Kingdom a global cryptocurrency hub, including amending a regulatory framework on stablecoin payments.
The NFT will be “issued by summer”, with no date publicly set for the release of the token.
Billionaire Dog NFT rug pull
Self-confessed “on-chain sleuth” “zachxbt”, popular for his Twitter threads investigating crypto figures and projects, has made a new thread on Monday alleging that French influencer Laurent Correia had a major role in an NFT project that rugged.
1/ Time for another $960k NFT rug this time involving Laurent Correia a popular French influencer with a reality TV show. pic.twitter.com/QkGeDecr5f
— zachxbt (@zachxbt) April 4, 2022
The Billionaire Dogs Club project launched in mid-December 2021 at a public mint price of 0.2 ETH, low demand for the NFTs saw the project restrict supply from 6,500 tokens to 2,000 in a bid to garner interest for the project.
According to “zachxbt”, the Discord channel and the team behind the project disappeared a week later, leaving NFT owners holding the bag. On-chain analysis by the analyst revealed that of the estimated $960,000 generated by the project, $400,000 was allegedly sent to Correia’s public crypto wallet.
4/ Here’s a breakdown where the proceeds from the project went.
Laurent himself received over $400k to his public wallet. pic.twitter.com/sckMfLoT5V
— zachxbt (@zachxbt) April 4, 2022
Related: NFTs, Web3 and the metaverse…
..